The penalty for failing to have health insurance is going up, perhaps even higher than you expected. Among uninsured individuals who are not exempt from the Affordable Care Act penalty, the average household fine for not having insurance in 2015 will be $661, rising to $969 per household in 2016, according to a Kaiser Family Foundation analysis. Individuals will pay the penalty when they complete their federal taxes the following ... (More)
7.5 mil paid fine for no coverage
July 21, 2015 Leave a Comment
About 7.5 million Americans paid an average penalty of $200 for not having health insurance in 2014 -- the first year most Americans were required to have coverage under the Affordable Care Act, the IRS said Tuesday. By contrast, 76 percent of taxpayers checked a box indicating they had qualifying insurance coverage all year. Counting another 7 million dependents who were not required to report their coverage but also filed returns, ... (More)
18,000 signups so far in tax season
April 7, 2015 1 Comment
It's a procrastinator's dream: Those who've put off getting health insurance to avoid penalties for the 2015 tax year have even more time to sign up. The April 30 dead-deadline for health insurance comes two weeks after tax filings are due for the year 2014. Almost all of those who went without coverage in 2014 will have to pay that "shared responsibility payment" regardless. Covered California says about 18,000 have signed up so ... (More)
Blue Shield loses tax exemption
March 20, 2015 Leave a Comment
State tax regulators have pulled the exempt status of health-care giant Blue Shield, one of the major participants in California's Obamacare operation. The move came in August, but was only publicized in mid-March. The story broke in the Los Angeles Times. Blue Shield of California said it was appealing the decision. It has not paid state income taxes since 1939, but does pay federal taxes. The health-care provider reportedly has ... (More)
Obamacare subsidies backed in poll
March 19, 2015 Leave a Comment
Despite months of news coverage, most people say they have heard little or nothing about a Supreme Court case that could eliminate subsidies helping millions of Americans afford coverage under the federal health law, according to a poll. But when respondents were told about the case, King v. Burwell, about two-thirds said that if the court strikes down the subsidies, then Congress or state officials should step in to restore them, ... (More)
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